Veeva stock toppled late Wednesday after the medical-software maker hiked its 2025 outlook on the back of mixed second-quarter results.
For the year, Veeva Systems now expects to earn an adjusted $7.78 per share on $3.134 billion to $3.14 billion in sales. Both measures beat analysts' forecast for a respective $7.67 and $3.102 billion, according to FactSet.
The company hiked its earnings outlook by 15 cents and raised its sales guidance by $42 million at the midpoint.
But Veeva stock took a turn into the red after strict, as-reported earnings came in light. The company, which makes software to help drugmakers organize information from clinical studies, earned an unadjusted $1.19 per share, missing forecasts for $1.30. Earnings grew 14% year over year.
In after-hours trades, Veeva stock fell more than 3% to 282.80. Shares widely undercut a buy point at 291.69 out of a flat base, according to MarketSurge. The stock closed the regular session in the 5% chase zone.
Veeva Stock: Adjusted Profit, Sales Beat
On an adjusted basis, Veeva earned $1.99 per share, topping forecasts for $1.90. Earnings grew nearly 23%. Sales grew 17% to $789.1 million, easily topping the Street's call for $768 million.
The lion's share of sales came from subscriptions, which also climbed 17% to $659.2 million.
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